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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019 |
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FRY HEATH & SPENCE LLP |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019 |
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FRY HEATH & SPENCE LLP |
FRY HEATH & SPENCE LLP (REGISTERED NUMBER: OC302760) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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FRY HEATH & SPENCE LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chart House |
2 Effingham Road |
Reigate |
Surrey |
RH2 7JN |
FRY HEATH & SPENCE LLP (REGISTERED NUMBER: OC302760) |
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BALANCE SHEET |
31 AUGUST 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Work in Progress |
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Debtors | 6 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
399,629 |
526,820 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
11 |
399,629 |
526,820 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 399,629 | 526,820 |
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The members acknowledge their responsibilities for: |
(a) |
ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act
2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
FRY HEATH & SPENCE LLP (REGISTERED NUMBER: OC302760) |
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BALANCE SHEET - continued |
31 AUGUST 2019 |
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In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
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The financial statements were approved by the members of the LLP on
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FRY HEATH & SPENCE LLP (REGISTERED NUMBER: OC302760) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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1. | STATUTORY INFORMATION |
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Fry Heath & Spence LLP is registered in England and Wales. The LLP's registered number and registered office |
address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced fees, excluding value added tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised |
evenly over its estimated useful life. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Work in progress |
Work in progress is valued at a fair value of the services provided. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme |
are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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FRY HEATH & SPENCE LLP (REGISTERED NUMBER: OC302760) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2018 |
and 31 August 2019 |
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AMORTISATION |
At 1 September 2018 |
and 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2018 |
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Additions |
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Disposals |
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( |
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At 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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FRY HEATH & SPENCE LLP (REGISTERED NUMBER: OC302760) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Trade creditors |
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Social security and other taxes |
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VAT | 33,261 | 34,738 |
Other creditors |
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Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans (see note 9) |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2019 | 2018 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans - less than 1 yr |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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Bank loan taken in year is a secured by a debenture. |
FRY HEATH & SPENCE LLP (REGISTERED NUMBER: OC302760) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2019 |
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11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2019 | 2018 |
£ | £ |
Amounts owed to members in respect of profits | 399,629 | 526,820 |
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Falling due within one year | 399,629 | 526,820 |
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In the event of a winding up, loans and other debts due to members will be paid from the surplus once all other |
unsecured creditors are paid. No legally enforceable protection is offered to unsecured creditors in the event of a |
winding up of the limited liability partnership. |
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12. | RELATED PARTY DISCLOSURES |
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Included in other debtors is a loan to KJCES Ltd of £289 (2018 - £NIL), which is under common control. |
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Included in other debtors is a loan to Lock IP Ltd of £650 (2018 - £650), which is under common control. |
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Included in other debtors is a loan to Verticus Ltd of £526 (2018 - £500), which is under common control. |
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Included in other debtors is a loan to MLEGU Ltd of £275 (2018 - £NIL), which is under common control. |
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13. | CONTROL |
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The Limited Liability Partnership is controlled by Messrs K M Boden and G J Lock. |